Glencore, the Swiss commodity group, raised USD 10 billion in an IPO for a dual listing on the London and Hong Kong Stock Exchanges which became the largest ever IPO on the premium listing segment of the London Stock Exchange. Also, Glencore is the first company since 25 years to enter the FTSE 100 Index at admission and only the third company in history to do so. Pestalozzi advised Glencore in Swiss law related IPO preparations including its pre-IPO restructuring.